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Pre-Market Performance
U.S. index futures were modestly lower, indicating a cautious open after the recent record-setting advance. Nasdaq 100 futures were at 30,533.3, down 33.0 points or 0.11%; S&P 500 futures were at 7,596.3, down 17.0 points or 0.22%; and Dow Jones futures were at 50,903, down 231 points or 0.45%.
European markets were firmer: the FTSE 100 traded at 10,365.28, up 26.33 points or 0.25%; France’s CAC 40 was at 8,206.10, up 59.51 points or 0.73%; and Germany’s DAX was at 25,198.65, up 195.61 points or 0.78%.
In commodities and forex, crude pulled back as traders reassessed U.S.-Iran negotiations: Brent crude futures traded near $93.67, down $1.31 or 1.38%, while WTI crude futures were near $90.90, down $1.26 or 1.37%. Gold futures rose to about $4,557.15, up $50.85 or 1.13%, and silver futures climbed to $76.663, up $1.408 or 1.87%. The U.S. Dollar Index eased to 99.045, down 0.102 or 0.10%.
Hot News
- Wall Street futures edge lower after record highs: U.S. futures slipped as investors balanced stretched equity levels against continued optimism around artificial intelligence infrastructure spending. The tone remained mixed, with AI-linked winners offset by broader caution in major index futures.
- Oil retreats as U.S.-Iran signals shift: Brent and WTI fell more than 1% after President Donald Trump said talks with Iran were ongoing, tempering some of the prior session’s geopolitical risk premium. Traders remained focused on whether any deal can normalize flows through the Strait of Hormuz.
- Gold gains as oil and yields ease: Gold rose more than 1% as lower crude prices and a softer U.S. dollar supported demand for precious metals, reflecting a partial unwind in inflation and rate-hike fears tied to energy-market volatility.
- AI infrastructure spending remains the market’s dominant theme: Investor attention stayed centered on the scale of AI data-center investment, with funding plans, server demand and chip supply commentary driving cross-asset sentiment. Markets are increasingly distinguishing between companies tied to compute, networking, memory and data-center buildouts.
U.S. Stock Focus
- Hewlett Packard Enterprise — Record Q2 results and upgraded outlook: HPE reported fiscal second-quarter revenue of $10.7 billion, up 40% year over year, with non-GAAP EPS of $0.79, above the expected $0.53. The stock jumped about 29.8% in pre-market trading as the company raised its fiscal 2026 revenue growth outlook to 29%–33% and pulled forward long-term targets by two years.
- Marvell Technology — Shares surge after Nvidia CEO endorsement: Marvell rallied more than 24% in pre-market trading after Nvidia CEO Jensen Huang called it the next “trillion-dollar company.” Reuters noted the move could add more than $47 billion in market value if sustained, with investors focusing on Marvell’s custom AI chip and interconnect exposure.
- Alphabet — Plans $80 billion AI funding push: Alphabet aims to raise $80 billion through equity offerings, including a $10 billion private-placement investment from Berkshire Hathaway. GOOGL shares were lower in early trading as investors weighed dilution against AI infrastructure growth.
- Nvidia — CEO says supply can support robust CPU and GPU growth: Nvidia CEO Jensen Huang said the company has secured enough supply to support strong growth in CPUs and GPUs as AI demand accelerates. NVDA was among the most active pre-market stocks, trading around $227.28, up 1.30%.
- Amazon — Ring faces facial-recognition lawsuit: Amazon was sued in a potential class-action over alleged privacy violations tied to Ring’s “Familiar Faces” feature, with the lawsuit seeking at least $5 million in damages for the proposed class.
- Shake Shack — Guidance cut pressures shares: Shake Shack shares fell about 7% after the company lowered its second-quarter revenue outlook to $415 million–$420 million and trimmed same-shack sales and full-year adjusted EBITDA guidance.
- Dollar General — Q1 results draw pre-market buying: Dollar General traded near $114.88, up 4.50% pre-market after reporting fiscal first-quarter EPS of $2.00 versus a $1.90 forecast and revenue of $10.8 billion, broadly in line with estimates.
- Palo Alto Networks — Fiscal Q3 results due after the close: Palo Alto Networks is scheduled to report fiscal third-quarter results after today’s close, with consensus expectations around $0.794 in EPS and $2.94 billion in revenue. Investors will watch next-generation security ARR and platform demand.
- Ulta Beauty — Q1 earnings scheduled after market close: Ulta Beauty will release fiscal first-quarter results after the close and hold a conference call at 4:30 p.m. EDT. Expectations center on about $6.87 in EPS and $3.11 billion in revenue, with focus on demand, margins and management’s outlook.
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